The international dealings schedule (IDS) applies only to those companies, trusts and partnerships having International related party dealings/transfer pricing where:
- the aggregate amount of those transaction or dealing were more than $2 million
- they had overseas branch operations or direct or indirect interest in a foreign trust, foreign company, controlled foreign entity or transferor trust
- the thin capitalisation provisions affected them.
The IDS is made up of 7 sections.
Section A: International related party dealings
- 2a—Is the total of your international related dealings over $2 million?
- 2b—Are you a small business entity, not a significant global entity and your international related party dealings do not exceed 50% of your current aggregated turnover?
- 13f—Did you provide any of the following for no payment or a non-monetary payment, or receive any of the following for a non-monetary payment to/from an international related party?
Section B: Financial arrangements new questions
- 19a—Did you have a financial arrangement for the purposes of Division 230 that did not give rise to a debt interest for the purposes of Division 974?
Section C: Interests in foreign entities
- 21f—Did you exclude tainted interest income from the passive income of a CFC which was an AFI subsidiary?
- 22a—Specify the gross revenue included in the gross turnover of your CFCs that have satisfied the activity income test.
- 22b—Specify the gross revenue included in the gross turnover of your CFCs that have not satisfied the active income test.
Section E—Financial Services Entities - New Item
- 40d—Did you have amounts denied under section 160ZZZL of the ITAA 1936?
Section G—Hybrid Mismatches - NEW Section comprises:
- Items 45 to 51